The American Institute of CPAs has updated its practice aid on digital assets with a new chapter on auditing cryptocurrency lending and borrowing transactions. The new chapter in the Digital Assets Practice Aid includes examples of audit procedures to help identify and respond to potential misstatements in financial reporting involving
Balancing craters; SST risks and trade-offs; Employee Retention Credit enforcement surge; and other highlights from our favorite tax bloggers. It’s all in the game TaxProf Blog (http://taxprof.typepad.com/taxprof_blog/): Favorite opening of the week: “Taxation is not just a legal duty; it is a game, and the best players always win.” While
Finance leaders have progressed beyond reactive reporting toward proactive decision-making, making master data quality a fundamental strategic advantage for organizations. Master Data Governance serves as an essential foundation that organizations cannot afford to ignore anymore. Master data quality establishes a direct relationship with financial business performance, producing quantifiable results that
French President Emmanuel Macron vowed a strong response if any country takes measures that undermine Europe’s digital sovereignty. Earlier this week, President Donald Trump threatened to impose fresh tariffs and export restrictions on countries that have digital services taxes or regulations that harm American tech companies. France was among the
President Donald Trump threatened to inflict “substantial” tariffs on countries that impose digital taxes just days after Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg raised concerns about the levies during a White House meeting. The Facebook co-founder visited Trump late last week, according to people familiar with the private
Find the subcontractor; think ‘Vandelay Industries’; seen the light; and other highlights of recent tax cases. Orlando, Florida: Eduardo Anibal Escobar, Carlos Alberto Rodriguez and Adelmy Tejada, all of Orlando, were sentenced for conspiracy to commit wire fraud and conspiracy to commit tax fraud. Escobar was sentenced to four years
Get that 1040V in the mail; OBBBA’s ongoing effects; it’s beginning to look a lot like Christmas; and other highlights from our favorite tax bloggers. It could happen to you Don’t Mess with Taxes (http://dontmesswithtaxes.typepad.com/): Tips for the next big lottery winner. TaxConnex (https://www.taxconnex.com/blog-): The liability for sales tax non-compliance
Bloomberg via Getty Images Individuals and businesses in West Virginia affected by severe storms, straight-line winds, flooding, landslides and mudslides that began on June 14 now have until next Feb. 2 to file various federal individual and business returns and make tax payments. Following the disaster declaration issued by the Federal
The Institute of Internal Auditors expressed its opposition to efforts to slash the funding of the Government Accountability Office nearly in half. Republicans on the House Appropriations Committee have proposed steep budget cuts for the GAO, reducing its budget from about $812 million for fiscal year 2025 to $415 million
Opsahl Dawson, one of Accounting Today‘s fastest-growing firms, has been increasing its footprint as part of the private equity-backed Ascend platform and recently relaunched its website and brand. “We built our website maybe 10 years ago,” said CEO Aaron Dawson. “But the firm has since doubled, if not tripled, in